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Registered User
Joined: 10/7/2004
Posts: 2,126
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That is some stinky breath. Still about 30 mi to market close this can even get worse. In fact that is the trend. I do not think volume will surpass 1.8 bil for the NAD today, but we will see at the closing.
Like I said yesterday, wait no longet to take your long profits off the table and put your shorts to work.
good luck
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Registered User
Joined: 9/1/2005
Posts: 16
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QUOTE (BigBlock) That is some stinky breath. Still about 30 mi to market close this can even get worse. In fact that is the trend. I do not think volume will surpass 1.8 bil for the NAD today, but we will see at the closing.
Like I said yesterday, wait no longet to take your long profits off the table and put your shorts to work.
good luck
I totally agree BigBlock, but I'm just curious, do you think any of the recent distribution has to do with fears of Hurricane Rita? Or is just the market? Thanks!
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 Gold Customer
Joined: 1/16/2005
Posts: 10
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Breadth is truly bad but not yet climactic.
Short term, perhaps, it is related to Rita. OTOH, the market rallied for a while after Katrina hit.
IMHO the news follows the trend longer term.
My own breadth incicator (not a cumulative one as presented here)showed breadth hitting its peak momentum on Jun. 17. It then began to slowly weaken, as the market averages continued up, but was still positive on August 2 whan I sold all my funds and got 90 % into cash.
After August 2 the market declined modestly into August 30 but breadth declined sharply. The rally post Katrina was accompanied by positive though dismal breadth and should not have been followed. On the high volume expiration day I bought OEX 570 puts at 6 and they closed today at 12. I am still holding as I do not consider te decline over yet. I would sell the puts on a panic down day but would buy them back on a subsequent technical rally.
This decline has a way to go.
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Registered User
Joined: 10/7/2004
Posts: 2,126
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Bamilus it isn't just Rita. It is a whole combination of many factors. Remember the market is usually about 6 months ahead.
Market technical condition of course counts too. But look around you, and remember the market is about people and their reactions to many situations and that of course includes natural disasters, employment, wages, cost of education, price of goods and many more. I will not have the time to give you a detailed sense of the situation, but practice yourself by trying to read economic indicators, keep track of the political agenda, don't forget about China, and North Korea. The situation in Middle East isn't over by any means. I am sure that they are watching and will try to enhance the punishment on an already beaten nation.
Take care.
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Registered User
Joined: 9/1/2005
Posts: 16
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QUOTE (BigBlock) Bamilus it isn't just Rita. It is a whole combination of many factors. Remember the market is usually about 6 months ahead.
Market technical condition of course counts too. But look around you, and remember the market is about people and their reactions to many situations and that of course includes natural disasters, employment, wages, cost of education, price of goods and many more. I will not have the time to give you a detailed sense of the situation, but practice yourself by trying to read economic indicators, keep track of the political agenda, don't forget about China, and North Korea. The situation in Middle East isn't over by any means. I am sure that they are watching and will try to enhance the punishment on an already beaten nation.
Take care.
I totally forgot about discounting when I made my post, thanks again for your answers BB!
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